Schnieders Capital Management LLC Acquires New Position in Micron Technology, Inc. (NASDAQ:MU)

Schnieders Capital Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel.com reports. The firm acquired 3,402 shares of the semiconductor manufacturer’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its position in Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Micron Technology by 43.4% in the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley raised its position in shares of Micron Technology by 19.7% in the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after buying an additional 2,852,688 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Micron Technology by 125.0% in the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock valued at $387,585,000 after buying an additional 2,523,267 shares during the last quarter. Finally, Phoenix Holdings Ltd. raised its position in shares of Micron Technology by 8,336.6% in the third quarter. Phoenix Holdings Ltd. now owns 1,732,231 shares of the semiconductor manufacturer’s stock valued at $117,762,000 after buying an additional 1,753,262 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MU. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. UBS Group boosted their target price on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Barclays boosted their target price on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Morgan Stanley boosted their target price on shares of Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Finally, Robert W. Baird boosted their target price on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Down 0.6 %

Shares of NASDAQ MU traded down $0.68 during midday trading on Wednesday, reaching $111.78. 19,823,737 shares of the company’s stock were exchanged, compared to its average volume of 20,580,822. The stock has a market capitalization of $123.78 billion, a PE ratio of -32.29 and a beta of 1.27. Micron Technology, Inc. has a 52-week low of $58.03 and a 52-week high of $130.54. The business’s fifty day moving average price is $104.04 and its two-hundred day moving average price is $87.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period last year, the firm earned ($2.03) earnings per share. Analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at $86,789,214.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $86,789,214.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 306,890 shares of company stock worth $33,005,157. Corporate insiders own 0.32% of the company’s stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.